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"id": 191376,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/191376/?format=api",
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"type": "speech",
"speaker_name": "Mr. Kimunya",
"speaker_title": "The Minister for Finance",
"speaker": {
"id": 174,
"legal_name": "Amos Muhinga Kimunya",
"slug": "amos-kimunya"
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"content": " That hotel was disposed of for US$45 million at the point of sale of agreement, which I believe was in May, 2008, immediately after I came to this House. Remember that on 29th April, 2008. I came on the Floor of this House and I said: \"I have instructed the CBK to dispose of this hotel with immediate effect.\" That is in the HANSARD. The CBK proceeded to enter into an agreement, a week after, at US$45 million on a forward rate of Kshs70 to the US dollar which was going to be Kshs3.15 billion. But in the event, when the money was received, it would be at Kshs65 to the US dollar. So, that would be Kshs2.925 billion. I get disturbed when I hear comments that it was sold at Kshs1.8 billion."
}